Retail Index Rises But Circuit City Knocked Down 22%
( Foxbusiness ) - While most retail stocks were holding up well in early Friday action, shares of Circuit City plummeted more than 22% to $5.27. Before the start of trading, Circuit City said that its third-quarter loss ballooned to $207.3 million, or $1.26 a share, from $20.4 million, or 12 cents, a year earlier. Meanwhile, sales fell to $2.94 billion from $3.06 billion. Analysts, on average, had estimated a loss of 31 cents a share with sales of $3 billion, according to Thomson Financial. Meanwhile, the S& P Retail Index was up more than 1% to 415.39.